Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee , as capital gains or income from other sources .

Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee , as capital gains or income from other sources .

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Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee , as capital gains or income from other sources .

Vasumati Prafullachand Sanghavi (Smt.) v. DCIT (2018) 168 ITD 585/193 TTJ 101/ 169 DTR 227 (Pune) (Trib.)

S. 56 : Income from other sources – Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee , as capital gains or income from other sources . [ S. 2(47)(i) , 2(47)(ii), 4,45 , 56(2)(vi) ]

Allowing the appeal of the assesse the Tribunal held that ; Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee,,as capital gains or income from other sources . ( AY. 2008 -09)

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